After months of decline, U.S. gas prices bump up

U.S. drivers are seeing rising gasoline prices for the first time in months, according to the latest survey posted Thursday by AAA.

Within the last week average U.S. gas prices increased by 11 cents from $2.04 per gallon on Jan. 29, to $2.15 per gallon on Thursday, Feb. 5, the drivers’ advocacy organization said.

Pump prices are still down sharply from a year ago, but the recent rise in prices marks the end of a 123-day trend of falling prices, the longest streak in history.

Thirteen states had average gasoline prices below $2, including New Jersey. This number compares to 25 states that had gasoline prices below $2 on Monday, and 28 states last week.

In Washington, D.C., typically one of the most expensive markets in the country, retail prices only increased by a fraction of a cent from $2.409 to $2.41, and prices in the Washington metro area increased by nine cents to $2.18.

In Virginia gas prices increased in the last week by nine cents to $2.04, and the prices of gasoline in Maryland jumped by 8 cents to $2.18 from last Thursday.

“The unprecedented free-fall in gasoline prices is over for the time being,” said remarked John Townsend II, spokesman for at AAA Mid-Atlantic.”Despite the uptick in gasoline prices, consumers are not reaching for their crying towels just yet. Consumers are still paying a nickel less than they were a month ago, and $1.12 less than they were at this time last year.”

According to Mr. Townsend, the rising gasoline prices reflect a series of refinery issues in the Midwest as well as price rises typical of this time of year.

Although seasonal demand and maintenance may cause gasoline prices to rise during the spring, AAA analysts say the national average will likely remain below $3 per gallon for the rest of the year.